Elo Mutual Pension Insurance Co Sells 18,708 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Elo Mutual Pension Insurance Co decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% during the fourth quarter, Holdings Channel reports. The fund owned 364,186 shares of the network equipment provider’s stock after selling 18,708 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Cisco Systems were worth $21,560,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth $26,000. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $31,000. Highline Wealth Partners LLC lifted its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the sale, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.3 %

CSCO opened at $61.80 on Thursday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a market capitalization of $245.86 billion, a P/E ratio of 26.99, a PEG ratio of 4.16 and a beta of 0.79. The stock’s fifty day moving average is $62.07 and its two-hundred day moving average is $58.36. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rosenblatt Securities raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.